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Critical Illness Insurance

A critical illness can happen to anyone!

While healthy lifestyle choices can be your best defence against some health risks, a critical illness such as cancer, stroke or heart disease can strike anyone at any time.


Critical Illness Insurance

A critical illness can happen to anyone!

While healthy lifestyle choices can be your best defence against some health risks, a critical illness such as cancer, stroke or heart disease can strike anyone at any time.

  • One in three Canadians will develop a life-threatening cancer
  • One is two heart attack victims are under 65 years old
  • Each year, 50,000 Canadians suffer a stroke and of all stroke victims, 75% will be left with a disability

Critical Illness Insurance is often referred to as living benefit insurance. It pays a lump-sum tax-free benefit to the insured after 30 days following the diagnosis of a covered illness. Insurance companies now cover up to 29 serious illnesses. The benefit is 100% yours to determine how it is used i.e.to pay for alternative treatments or therapies for your recovery, to pay the mortgage payments while you are off work, take a vacation or to provide your family some income support.

Expenses such a private nursing or modifications to your home or vehicle to improve your mobility won’t be covered under your provincial health insurance plan and may not be covered under employer-sponsored health plans.  Then there are the other challenges that critical illnesses bring-such as finding the best medical care, meeting day-to-day needs (like caring for your children), and managing the stress and anxiety.

Critical illness insurance can reduce your financial burden:

  • Pay off or reduce your mortgage, credit cards or other debts
  • Help keep your business operating
  • Maintain your independence by modifying your home or vehicle to improve your mobility
  • Hire domestic help during your recovery

Term

If you knew you could always be there for those you love most, you wouldn’t need life insurance. However, life is full of uncertainties and that is why life insurance is so important - it will protect your family’s future and provides you peace of mind today.

Term Life Insurance is the most straight-forward form of protection. Term Insurance provides coverage with rates banded by pre-selected periods of time. If the insured dies during this period the named beneficiaries receive a lump sum of tax-fee money.

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Permanent Insurance

There are two main types of permanent insurance – Whole Life Insurance and Universal Life Insurance.

 
Whole Life Insurance provides a level premium and guaranteed death benefits. It is an excellent solution for long-term planning. The policy creates cash value over time which allows for flexible cancellation options. Furthermore, although coverage is life-long you can choose your payment period. You can purchase the policy in a predefined number of years and have it paid up at a young age.

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Critical Illness Insurance

A critical illness can happen to anyone!

While healthy lifestyle choices can be your best defence against some health risks, a critical illness such as cancer, stroke or heart disease can strike anyone at any time.

 

Read more...

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Disability Insurance

Your biggest asset is your ability to earn an income. Disability Insurance is a living benefit that provides you with continued income if you become unable to work due to illness or injury.

All disability insurance benefits are paid out tax-free. Disability insurance is highly tailorable with many options to develop a comprehensive plan for any occupation.

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